Fate Therapeutics (NASDAQ:FATE) Rating Lowered to Sell at StockNews.com

Fate Therapeutics (NASDAQ:FATEGet Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other research analysts have also recently issued reports on FATE. Canaccord Genuity Group decreased their price objective on shares of Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday. Piper Sandler dropped their price objective on Fate Therapeutics from $7.00 to $4.00 and set a “neutral” rating for the company in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. Oppenheimer reissued a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. Finally, HC Wainwright restated a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.75.

Check Out Our Latest Research Report on Fate Therapeutics

Fate Therapeutics Trading Up 4.6 %

NASDAQ FATE traded up $0.18 during midday trading on Friday, hitting $4.08. The company had a trading volume of 6,164,234 shares, compared to its average volume of 2,713,561. The firm has a 50-day moving average price of $6.03 and a 200-day moving average price of $4.72. The company has a market capitalization of $464.39 million, a PE ratio of -2.49 and a beta of 1.80. Fate Therapeutics has a twelve month low of $1.63 and a twelve month high of $8.83.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, hitting the consensus estimate of ($0.47). The business had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, equities analysts anticipate that Fate Therapeutics will post -1.94 EPS for the current year.

Institutional Trading of Fate Therapeutics

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the period. Assenagon Asset Management S.A. lifted its stake in Fate Therapeutics by 1,462.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock valued at $18,705,000 after buying an additional 2,385,207 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Fate Therapeutics by 2.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,389,123 shares of the biopharmaceutical company’s stock valued at $5,065,000 after buying an additional 54,005 shares during the period. Monaco Asset Management SAM boosted its holdings in shares of Fate Therapeutics by 18.1% during the 4th quarter. Monaco Asset Management SAM now owns 2,183,228 shares of the biopharmaceutical company’s stock worth $8,165,000 after buying an additional 335,284 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Fate Therapeutics by 135.5% during the 3rd quarter. Acadian Asset Management LLC now owns 2,149,597 shares of the biopharmaceutical company’s stock worth $4,555,000 after buying an additional 1,236,680 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

About Fate Therapeutics

(Get Free Report)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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